Qriar Island Corp Acquires Development Site In Miami Beach For $13.3M
28 East Star Island Drive, Miami Beach, FL, USA
$13,300,000
$332/SF
Building Size
40,000 SF
Asset Type
Development Site
Closing
Dec 14, 2020
AI
A development site located at 28 Star Island Drive in Miami Beach has been sold in a recent transaction. The property was purchased by Qriar Island Corp, represented by Luís Felipe Neiva Silveira. The seller of the site was Paulo Agnelo Malzoni Filho and Marco Antonio Charro. The transaction was facilitated by Bento Queiroz from Compass, who acted as the buyer's representative, and Jill Hertzberg from Coldwell Banker, who represented the seller. The sale took place on December 15, 2020, for a total price of $13,300,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,300,000
- Address: 28 Star Island Drive, Miami Beach
- Buyer: Qriar Island Corp - Luís Felipe Neiva Silveira
- Seller: Paulo Agnelo Malzoni Filho & Marco Antonio Charro
- Buyer's Representative: Bento Queiroz - Compass
- Seller's Representative: Jill Hertzberg - Coldwell Banker
The sale of the development site on Star Island Drive in Miami Beach was successfully concluded. This transaction showcases the involvement of key individuals and companies in the deal, including Qriar Island Corp, Luís Felipe Neiva Silveira, Paulo Agnelo Malzoni Filho, Marco Antonio Charro, Bento Queiroz, and Jill Hertzberg. The property's characteristics, such as its location and size, were crucial factors in the transaction.
Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93